Ameriwest Lithium Announces Filing of Technical Report on Deer Musk East Property

Clayton Valley is located within the Basin and Range Province in southern Nevada. It is a closed basin that is fault bounded on the north by the Weepah Hills, the east by Clayton Ridge, the south by the Palmetto Mountains, and the west by the Silver Peak Range and Mineral Ridge. The north and east parts of Clayton Valley are flanked with Miocene to Pliocene sediments containing multiple primary and reworked volcanic ash deposits within fine-grained clay and silt units. These deposits, mapped primarily to the north, are a part of the Esmeralda Formation, a sedimentary sequence grading from coal-bearing siltstones, sandstones, and conglomerates at the base, to fine-grained tuffaceous lacustrine sediments at the top of the section.

Lithium bearing sediments have been recognized in Clayton Valley for some time in uplifted Miocene Esmeralda Formation lacustrine clays, ash and tuffs. Lithium values range from 496 - 4,950 ppm. Recent exploration work by other companies has confirmed large volumes of lithium-bearing sediments on the east flank of the Valley.

The Property is located in the southeast lower flank of Clayton Valley and lies south, and along strike, of exposed mudstone, claystone and welded tuffs of the Miocene Esmeralda Formation. The area is characterized by valley floor sediments to the east, an uplifted central core and large unsorted alluvial deposits on the west. The Esmeralda Formation is not exposed on the claims comprising the Property as it terminates at the north boundary of the Property. Evidence suggests a small normally faulted and rotated crustal block has offset the Esmeralda Formation and it is believed the Formation exists at depth on the Property.

Note that the vicinity of the Deer Musk East Property to Abermarle’s Silver Peak operations does not guarantee exploration success on the Deer Musk East Property or that mineral resources or reserves will ultimately be delineated.

Next Steps

As outlined in Ameriwest’s August 3, 2021, press release, the Company’s initial exploration program will consist of soil sampling, rock chip sampling, and geophysics to evaluate the lithium potential on the Property, including the following geophysical surveys:

• Seismic reflection for definition for subsurface strata and fault definition;
• Gravity for depth to bedrock and structure; and
• Resistivity to evaluate the extent of conductors that may represent lithium brine hosting units.

The estimated cost of completing the Phase 1 exploration program is US$190,000. Information from the program will be used to make recommendations for a Phase 2 exploration program, which could potentially include drilling for placer brine or placer sedimentary lithium deposits.

Qualified Person

Raymond P. Spanjers, an independent consultant geologist, is a qualified person as defined in National Instrument 43-101. Mr. Spanjers has reviewed the scientific and technical information that forms the basis of this news release and has approved the disclosure herein. Mr. Spanjers is independent of the Company.

disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.